Meltdown can affect developing nations: C'wealth Secy Gen

Ajay Kaul

New Delhi, Oct 21 (PTI) Fearing that the financial
crisis in the developed world could have "ripple" effect on
developing nations, Commonwealth Secretary General Kamlesh
Sharma Tuesday pressed for steps to protect interests of
"vulnerable" small countries in terms of assured investment
and trade.

Pitching for an inclusive consultative process, Sharma
said lessons should be learnt from the current global meltdown
to make sure that such crisis does not recur.

"What we are emphasising is not immediate remedy to
emergency like how can the banks be capitalised etc because
they are sovereign decision, urgent sovereign decisions which
are to be taken," Sharma told PTI in an interview here about
the issue which is assuming serious proportions globally.

"What we are concentrating on is what are the lessons
learnt that similar situations don't arise again. There we are
emphasising the process," said the former Indian diplomat.

Sharma, who heads an organisation of 53 nations most of
which are developing countries, talked about the
"vulnerabilities of small states and other states."

"Everybody has a stake in the quality of global
governance," he said, adding "so we need a process of
consultations that is inclusive... We are not pre-judging. We
simply saying many member countries have come up with
expectations we are only listing them."

"We have very great concern that this ripple effect may
embrace (developing countries). We hope it will not be the
case. It should not embrace or have impact on the increasing
levels of development assistance that have already been
indicated. There should be no effect on that," the
Commonwealth chief said.

Sharma, who assumed charge of the Commonwealth in April,
said "all the possible effect on investment levels should also
be sought to be prevented from this."

He also talked about the concern about the possibility
of trade between development countries suffering because of
the meltdown. "Interests of developing countries in the
trading environment is kept in view."

Asked to comment on suggestions by various economists
that Indian financial management system was an example to
prevent such crises, Sharma said the country's regulatory
system and surveillance system is believed to be quite
prestigious.

"It (Indian system) is quite of conservatism. Many of
the Commonwealth countries are like that," he said and
referred to Malaysia which also survived the 1998 "financial
tsunami" in East Asia because of its well-insulated system.

"Many of the Commonwealth countries would feel
vindicated that caution and care in this area pays dividends,"
he observed.

Sharma, who met Prime Minister Manmohan Singh Monday
and discussed the issue of global economic crisis, said the
Commonwealth had long ago talked about the need to reform the
international financial institutions.
Vital installations in the country on terror groups' hit list

New Delhi, Oct 21 (PTI) Vital installations of India
including nuclear projects, ports and oil refineries are on
the radar of terrorist groups operating in the country, the
Lok Sabha was informed today.

The details of threat levels were denied by the home
ministry saying that "it is not in the public interest to
disclose these facts."

Minister of State for Home Affairs Sriprakash Jaiswal,
while replying to the question of parliamentarian K.S. Rao
also refused to divulge the details of measures taken by the
government to thwart them.

In response to another question, Jaiswal also accepted
that terrorists' infrastructure continue to exist in Pakistan
and said various terrorist groups and organisations having
bases in Pakistan are promoting terrorism in India.

He said these organisations continue to engage in
recruitment, training, arming, infiltration and other
activities aimed at promoting violence and terrorism in
various parts of the country.

"We have also reiterated the importance of Pakistan
fulfilling its commitment outlined in the joint statements of
January 6, 2004 and September 24, 2008 that Pakistan would not
allow its territory and territory under its control to be used
to support terrorism in any manner," he said.

Jaiswal accepted that Pakistani nationals visiting India,
who do not return even after the expiry of visa term,
has increased in 2008.

Jaiswal, in reply to another question said that compared
to 7,404 Pakistanis last year, 9,636 have overstayed in India
till July this year.

Jaiswal clarified that Pakistanis overstaying in India
were not eligible for Indian citizenship as they come under
the definition of illegal migrants.

"Members of the minority community in Pakistan (Hindus
and Sikhs) residing in India on Long Term Visa, subject to
fulfillment of certain conditions, are eligible for grant of
Indian citizenship after a stay of seven years in India," he
said.

Jaiswal maintained there was no proposal to amend the
rules in this regard at this stage.

Singh appreciated Commonwealth's in the context of
financial crisis and asked it to continue its "activism" in
view of the events that have occurred, Sharma said.

Noting that much of the work the Commonwealth does is
not well known to common masses, the Secretary General said
"in globalised world, Commonwealth is contemporary."

He pointed out that a majority of the member countries
of Commonwealth are "small and vulnerable" states for which
the 43-year-old grouping of former British colonies does
advocacy to ensure protection of their interests, including in
trade and environment matters.

"We support them so that their point of view is not lost
or neglected. This we must keep on doing," he said, adding
this is more important in the globalised world.

"We are a representative kind of group. We are keepers of
world faith. It is important for us to think what is the
global contribution in the issues of the world. Treatment of
so many subjects is now collective treatment, globalised
treatment," the Commonwealth chief said.

On the challenges of food and energy security, Sharma
said a number of world organisations are already active in
this field and Commonwealth would like to see how it can help
in this area.

"One way is through a farmers' forum where farmers
directly can be in touch with each other and lessons learnt
particularly on extension services," he said.

"But we are open to the idea that this is an area in
which Commonwealth can do more," he said.